GSBDC Finances Building Purchase for Smartech Systems, Inc.

Posted 06.01.08

Loan: SBA 504

Established in 1998, Smartech Systems, Inc. is a Systems Integration Firm owned by Frank Mayville, president, and Glenn Hirt, vice president. The company provides services to industrial customers in the form of single source solutions. Their capabilities cover a wide range of industrial control and automation. Current industry experience includes semiconductor manufacturing, processed foods and beverages, glass and ceramic, facilities, pharmaceutical, aluminum, pulp and paper, and water and wastewater treatment.

The company was planning to expand and reconfigure its operation as they had outgrown their leased space in Manlius where they employed 18 people. They needed more space for engineering and software personnel, and a larger light manufacturing area with a loading dock that is well integrated with the entire operation. Through the assistance of Visions Federal Credit Union and the Greater Syracuse Business Development Corporation (GSBDC), they have purchased a 10,000 square foot facility located at 500 East Brighton Ave. in Syracuse. The building will provide sufficient capacity for their current and future needs.

To assist with the building acquisition, GSBDC provided a fixed-rate SBA 504 loan for 40 percent of the total project cost. According to Frank Mayville, president, and Glenn Hirt, vice president, “We are very pleased with the size and location of our new facility. We are already seeing some of the benefits we hoped for when planning the move. We are also very grateful for the help we received from GSBDC and Visions Federal Credit Union in making this move and growth possible.”

Visions Federal Credit Union provided financing for 50 percent of the total project cost in a first mortgage position, as well as the interim financing. According to Michael Dunne, member business loan officer, “I have worked with Frank and Glenn for nearly 10 years, and when this opportunity arose for Smartech to continue its strong growth, Visions was proud to work with them and GSBDC to service an expanding business in our area. Visions Federal Credit Union will continue to serve the need to grow the Greater Syracuse business community.”

Smartech Systems, Inc has already added two new jobs following the move. They expect to create five additional positions over the next three years to accommodate continued expansion of their operations.